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What credit scores get approved for Chase Ink cards?

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This article was last updated Nov 30, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Chase offers two “Ink” business cards, the Ink Business Cash℠ Credit Card and the Ink Business Preferred℠ Credit Card, for business owners looking to streamline expenses while earning rewards and enjoying numerous perks. Both cards are eligible to earn valuable Chase Ultimate Rewards® points, which can be combined with points you earn on select other Chase credit cards and can be redeemed for travel, entertainment or merchandise.

In this post, we’ll tell you what credit score you need to qualify and help you decide between the two cards.

What credit score does it take to qualify?

As a business owner, you may be interested in one of these cards and wonder what credit score you need to qualify. Most business cards are reserved for people with good or excellent credit, and the Ink Business Cash℠ Credit Card and the Ink Business Preferred℠ Credit Card are no different.

Here are the credit scores for the following cards:

  • Ink Business Cash℠ Credit Card: Excellent credit
  • Ink Business Preferred℠ Credit Card: Excellent credit

Just note that having an excellent credit score doesn’t mean you’ll be approved for the card, as issuers consider numerous factors during the application process.

How big of a company do I have to run?

You don’t necessarily need to have a full-fledged corporation to qualify for the Ink Business Cash℠ Credit Card or Ink Business Preferred℠ Credit Card. These cards are designed for all types of business, both big and small, as well as those in various industries.

How much revenue does my business need?

It’s not required to have a business with established revenue to apply for one of these cards. However, if your business lacks revenue, be aware that your personal credit will be evaluated more heavily so that the lender can make an educated decision. If your business has substantial revenue, your personal credit may not be weighed as much as a business with no revenue, but lenders will still consider it during the application process.

How does the application process differ from a personal card?

To apply for a business card, you don’t need to file special paperwork. Your own Social Security number can be the tax ID for your business — there’s no need to be fully incorporated to open a business card and begin charging expenses on it; you can decide on that later. But if you do have a business fully up and running, that’s great news — just enter the tax ID during the application process.

Why should you consider a business card?

While every business starts at zero, it still requires some purchases to get the ball rolling. That’s when a business card like the Ink Business Cash℠ Credit Card or the Ink Business Preferred℠ Credit Card can be very helpful. Whether you’re consulting or babysitting for friends, selling on eBay or blogging, if you plan to earn some money from it, you’ve got a business. Your start-up costs can vary depending on the type of business you run, but one commonality is the need for a payment method, and credit cards are widely accepted and relatively simple to use — making them a great choice when used responsibly.

In the case of the Ink Business Cash℠ Credit Card and the Ink Business Preferred℠ Credit Card, you have the potential to benefit from special financing (see below), rewards, travel and purchase protections, and more. Plus, employee cards are free — so as your business grows, you can utilize additional business credit cards to streamline business expenses.

Ink Business Cash℠ Credit Card vs. Ink Business Preferred℠ Credit Card

  • 0% for 12 Months

  • $500 bonus cash back

  • Earn 5% cash back in select business categories

Highlights
  • Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee

See additional details for Ink Business Cash℠ Credit Card

More Info

  • Earn 80,000 bonus points

  • Earn 3 points per $1 in select business categories

  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards

Highlights
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

See additional details for Ink Business Preferred℠ Credit Card

More Info

While the Ink Business Cash℠ Credit Card and the Ink Business Preferred℠ Credit Card both have “Ink” in the card names and have several similar features (extended warranty, purchase protection and roadside dispatch), they differ in a few key ways: annual fee, special financing, rewards, and foreign transaction fee. Below, we’ll compare how the two cards stack up on these features.

Annual fee

If your business is just starting out and you’re looking to minimize costs, it’s generally a good idea to choose a no annual fee card. The Ink Business Cash℠ Credit Card has a $0 annual fee, making it the better choice compared to the $95 annual fee Ink Business Preferred℠ Credit Card.

However, that doesn’t mean the Ink Business Preferred℠ Credit Card shouldn’t be considered. If you typically spend on travel, the Ink Business Preferred℠ Credit Card provides more benefits like trip cancellation and trip protection insurance, as well as rewards that can be worthwhile — especially if you spend at least $3,167 on travel a year, since that amount of spending allows you to recoup the $95 annual fee.

Financing new purchases

The Ink Business Cash℠ Credit Card offers an intro 0% for 12 months on purchases (after, 15.24% - 21.24% Variable APR), which can be great for financing business expenses. Whether your business is in need of laptops, desks, printers or other supplies, this allows you to finance new purchases over a year without accruing interest. Just make sure you pay off your balance in full before the intro period ends to avoid interest charges.

Tip: You are still required to make minimum payments during an intro period. Miss the minimum payment and you risk the intro 0% APR period being canceled.

Rewards

The type of spending your business does is a big factor in deciding which card to choose. If your business typically spends on dining and gas, the Ink Business Cash℠ Credit Card is the most beneficial option since you Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. However, if you often travel, the Ink Business Preferred℠ Credit Card is the better choice — Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

When it comes to redeeming rewards, don’t let the “Cash” name fool you on the Ink Business Cash℠ Credit Card. You may think since it’s a cashback card, you’re unable to redeem points via the Chase Ultimate Rewards® portal, but that’s not true. If you have another eligible Chase credit card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or the Ink Business Preferred℠ Credit Card, the cash back you earn with the Ink Business Cash℠ Credit Card along with those other eligible cards can be transferred as points via Chase Ultimate Rewards® portal to participating airline and hotel travel programs.

  • 60,000 bonus points

  • 2X points on travel and dining

  • 1:1 point transfer to leading airline and hotel loyalty programs

Highlights
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel

See additional details for Chase Sapphire Preferred® Card

More Info

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.

  • $300 Annual Travel Credit, Airport Lounge Access, and Flexible Redemption Options

Highlights
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Named "Best Premium Travel Credit Card" for 2018 by MONEY® Magazine
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®

See additional details for Chase Sapphire Reserve®

More Info

Foreign transaction fee

When traveling abroad, some credit cards may charge a fee — known as a foreign transaction fee — that is tacked on to every purchase you make in a foreign country. This fee is typically 3% to 5% and can add up if you travel frequently. If you and any employees you have travel abroad for business, the Ink Business Preferred℠ Credit Card will save you money compared to the Ink Business Cash℠ Credit Card since charges no foreign transaction fee. Purchases made abroad with the Ink Business Cash℠ Credit Card incur a foreign transaction fee of 3% of each transaction in U.S. dollars. For example, if you spend $5,000 abroad a year with the Ink Business Cash℠ Credit Card, you’d rack up $150 in fees while you would have no fees with the Ink Business Preferred℠ Credit Card.

Here’s a summary of the key features of each card:

Ink Business Cash℠ Credit Card Ink Business Preferred℠ Credit Card
Annual fee $0 $95
Purchase intro rate 0% for 12 months N/A
Balance transfer intro rate n/a N/A
Balance transfer fee Either $5 or 5% of the amount of each transfer, whichever is greater. Either $5 or 5% of the amount of each transfer, whichever is greater
Regular purchase APR 15.24% - 21.24% Variable 17.99% - 22.99% Variable
Rewards Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Sign-up bonus Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening
Foreign transaction fee 3% of each transaction in U.S. dollars $0

Read our reviews of the Ink Business Cash℠ Credit Card and the Ink Business Preferred℠ Credit Card.


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